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Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority).
Fixed deposit. A fixed deposit ( FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in ...
Total Debt Service (TDS) Ratio: No more than 40% of your gross annual income should be used to pay housing costs, credit card balances, personal loans and other forms of debt.
Income tax is to be paid on interest earned from a Recurring Deposit at the rate of tax slab of the Recurring Deposit holder. Investors with no taxable income have to submit a form 15G to avoid TDS on both recurring deposits and fixed deposits.
When you’re getting ready to buy a house you’re going to become very acquainted with your printing and scanning home office tools. That’s because it requires a lot of paperwork to get a ...
A closer look at how CDs work, the different types available and how to open this high-yield deposit account.
The customer account will be debited to give the effect of this tax. This tax helps in the documentation of the economy. It helps in reducing cash transactions. However, the customer can reduce his tax liability at the end of the year with the amount already paid as advance tax on cash withdrawal from banks.
Individual bonds will mature, meaning that the issuer will pay the investor back the face value of the bond, but bond mutual funds replace maturing bonds with new bonds to keep the fund going.